PT Jaminan Pembiayaan Askrindo Syariah

What PT Jaminan Pembiayaan Askrindo Syariah does

PT Jaminan Pembiayaan Askrindo Syariah (commonly known as Askrindo Syariah) is Indonesia's first sharia-based financing guarantee company, established in 2013 as a subsidiary of state-owned enterprise PT Askrindo (Persero), which itself sits within the Indonesia Financial Group (IFG) holding. The company provides kafalah (guarantee) products under Islamic principles (kafalah bil ujrah) for use by Islamic banks, Islamic rural banks (BPRS), BMTs, and state-owned financial institutions (Pegadaian, PNM, LPDB) that originate sharia-compliant financing to MSME and individual borrowers. Its core value proposition is enabling non-bankable but viable borrowers to access Islamic financing by absorbing default, death, disability, termination, flood, and fire risks on behalf of the financing institution, with revenue earned through usage-based IJK (Imbal Jasa Kafalah / guarantee fees). The portfolio spans 20 Kafalah products organized into Kafalah Pembiayaan Konsumtif, Kafalah Pembiayaan Produktif, Kafalah Suretyship, and specialized sub-products (Muwazoff Payroll Plus, Tajir Plus, Pensiunan, Pemilikan Rumah, Pembiayaan Pendidikan, Transaksi Perdagangan, Anjak Piutang), supported by MAASya as a dedicated retail-facing line and by Lembaga Pengelolaan Dana Bergulir KUMKM (LPDB)-linked micro guarantee activity.

Operationally, Askrindo Syariah distributes through 16 Kantor Pemasaran (marketing offices) across major Indonesian cities and operates an Online System Application (OSA) — a web-based platform that lets partner banks submit applications, run ujrah and acceptance simulations, issue electronic guarantee certificates, and manage customer records. Distribution is overwhelmingly domestic Indonesia, delivered through direct B2B sales and channel-partner relationships with 40+ financial institutions, complemented by Sharia Society Gathering industry events, academic collaborations (PEBS Universitas Indonesia), and CSR / UPZ programs. Customers are segmented into MSME/individual borrowers served via Islamic banking partners, Islamic banking institutions themselves, government/corporate surety bonds, and digital-first partner banks; pricing is fully usage-based and customized per Perjanjian Kerja Sama (PKS). The company is regulated by Otoritas Jasa Keuangan (OJK), endorsed by DSN MUI, and currently led by Direktur Utama Kokok Alun Akbar alongside a Board including a Director of Finance, Director of Marketing, Director of Operations, Komisaris Utama, and a Sharia Supervisory Board (Dewan Pengawas Syariah).

Name

PT Jaminan Pembiayaan Askrindo Syariah

Legal name

PT Jaminan Pembiayaan Askrindo Syariah

Website

https://askrindosyariah.co.id

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

PT Jaminan Pembiayaan Askrindo Syariah is Indonesia's first sharia-based financing guarantee company. A subsidiary of state-owned PT Askrindo (Persero), it provides kafalah (guarantee) products to Islamic banks, BPRS, and state-owned MSME financiers, enabling non-bankable but viable borrowers to access sharia-compliant financing.

Ownership category

akta.pro rank

Product category

Sharia Financing Guarantee

NAICS

Sales Financing (52222)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

akta.pro secondary industries

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Corporate Banking (FSABAGAC)

Keywords

• Sharia financing guarantee
• Kafalah guarantee products
• Islamic banking guarantee
• MSME credit guarantee
• Sharia surety bonds

Headquarters

HQ city

Jakarta Selatan

HQ country

Indonesia

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Kafalah Fee (Imbal Jasa Kafalah / IJK): Askrindo Syariah generates revenue primarily through Kafalah fees (Imbal Jasa Kafalah, equivalent to guarantee premiums) charged to financial institutions for guaranteeing their financing portfolios. Fees are charged as a percentage of the guaranteed amount (ujrah). The company offers multiple Kafalah products covering consumer financing, productive financing, surety bonds, and trade transactions, each with specific fee structures.
2. Digital Services (OSA): Revenue-generating digital platform services through the Online System Application (OSA), enabling partner financial institutions to process and manage guarantee transactions electronically.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

PT Jaminan Pembiayaan Askrindo Syariah provides sharia-compliant financing guarantee (kafalah bil ujrah) services to Islamic banks and other sharia financial institutions in Indonesia. Its core offerings span consumer financing guarantees (Kafalah Pembiayaan Konsumtif), productive/business financing guarantees for MSMEs (Kafalah Pembiayaan Produktif), and surety bonds and bank guarantees (Kafalah Suretyship), with the proprietary Online System Application (OSA) supporting online application, ujrah simulation, certificate issuance, and customer management. The company enables non-bankable but viable borrowers to access Islamic financing by absorbing credit risk across default, death, permanent disability, job termination, business interruption, and fire scenarios.

Product overview

PT Jaminan Pembiayaan Askrindo Syariah is a sharia-based financing guarantee company and the first such institution in Indonesia. The company offers a portfolio of Kafalah (guarantee) products centered around three core pillars: Kafalah Pembiayaan Konsumtif for consumptive financing, Kafalah Pembiayaan Produktif for productive/business financing, and Kafalah Suretyship for surety bonds and bank guarantees. Supporting these are specialized sub-products including Kafalah Muwazoff Payroll Plus, Tajir Plus, Pensiunan, Pemilikan Rumah, and Pembiayaan Pendidikan. The company also provides digital services through its Online System Application (OSA) platform for online guarantee processing, along with MAASya as a dedicated product line. All products operate under sharia principles using the kafalah (guarantee) contract framework.

Differentiator

Problem solved

Functional benefit

Brands

• MAASya: Digital guarantee service platform offered by Askrindo Syariah
• OSA (Online System Application)

Products and services

• Kafalah Pembiayaan Konsumtif Sharia-based financing guarantee covering consumptive financing (employee multi-purpose, pensioner, home ownership, education, active deposit financing) for recipients of financing from Islamic banks or non-bank sharia financial institutions, particularly those who do not meet technical requirements. Covers death, permanent disability, job termination, default, fire, and active-deposit risks.
• Kafalah Pembiayaan Produktif Sharia-based financing guarantee for productive/business financing purposes (working capital and investment) to support business growth of MSMEs accessing Islamic financing, covering default (wanprestasi) and business interruption from flooding risks via Kafalah Pembiayaan Tajir Plus and other variants.
• Kafalah Suretyship Sharia-based surety guarantee product designed to guarantee the ability of a Principal to fulfill obligations under the main agreement with an Obligee, including bank guarantees, performance bonds, advance payment bonds, and tender bonds issued under sharia principles.
• MAASya Sharia financing guarantee product marketed under the MAASya sub-brand, targeting specific market segments via a dedicated digital guarantee service channel.
• Layanan Digital (Digital Services) Digital services platform category that bundles the Online System Application (OSA) capabilities - online guarantee acceptance processing, ujrah simulation, acceptance simulation, electronic certificate issuance, and customer registration - for partner financial institutions.
• Prosedur Transaksi Bisnis Penjaminan Standardized business transaction procedures covering documentation requirements, application workflow, and operational process for guarantee transactions at PT Jaminan Pembiayaan Askrindo Syariah.
• Online System Application (OSA) Web-based application system for online guarantee acceptance processing, including ujrah simulation, acceptance simulation, customer management, and electronic certificate issuance for partner banks. Accessible at osa.askrindosyariah.co.id.
• Kafalah Transaksi Perdagangan Sharia guarantee product providing compensation to sellers for non-payment of receivables by buyers (Protected Default) in trade transactions, covering buyer default on outstanding amounts.
• Kafalah Anjak Piutang Sharia guarantee product protecting banks and sellers from trade financing transactions under specific factoring (anjak piutang) contracts.
• Kafalah Surety / Bank Garansi Sharia-compliant surety bond and bank guarantee product covering the default risk of principals (e.g., performance, advance payment, tender, and execution bonds) in favor of project owners or procurement entities.

Quantifiable outcome

• Rp 4 trillion targeted guarantee coverage (pengoveran)
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

26 partnerships are on record, tiered minor and core.

• Pusat Ekonomi dan Bisnis Syariah (PEBS) Universitas IndonesiaminorStrategic or Co-development Partner · 17 July 2026Silaturahmi meeting between Askrindo Syariah and PEBS UI to explore collaboration on sharia financial literacy education, training, research, and consultation. Potential areas include guest lectures, industry-academia knowledge exchange, and joint studies on sharia guarantee mechanisms.
• PT Pegadaian (Persero)coreStrategic or Co-development Partner · 13 October 2016Askrindo Syariah and PT Pegadaian (state-owned pawnshop) entered a cooperation agreement for sharia financing business guarantee. The partnership supports Pegadaian's sharia product innovation including Arrum (micro financing), Mulia (gold investment murabahah), and gold savings products. Askrindo provides guarantee coverage for Pegadaian's financing portfolio under sharia principles.
• PT Bank Muamalat Indonesia, TBKcoreStrategic or Co-development Partner · 23 December 2014Askrindo Syariah and Bank Muamalat Indonesia signed a PKS (Perjanjian Kerja Sama) for Kafalah Mikro product, expanding their guarantee cooperation for Bank Muamalat's micro financing portfolio. The partnership enables Bank Muamalat to offer guaranteed micro financing with sharia-compliant coverage.
• BPRS Bhakti SumekarcoreStrategic or Co-development Partner · 13 August 2013Askrindo Syariah partnered with BPRS Bhakti Sumekar (largest Islamic rural bank in East Java, 3rd nationally) to drive sharia MSME development in East Java. BPRS Bhakti Sumekar has 12 branch offices and targets Rp 254 billion in financing (70% consumer, 30% productive).
• Bank Negara Indonesia Syariah (BNIS)coreStrategic or Co-development Partner · 21 June 2013Electronic certificate guarantee handover for project financing cooperation between Askrindo Syariah and Bank BNI Syariah (BNIS), supporting BNIS's financing expansion through kafalah guarantee coverage.
• Bank Syariah Indonesia (BSI)coreStrategic or Co-development PartnerBSI is listed as a key business partner, utilizing Askrindo Syariah's kafalah guarantee products for financing portfolio risk coverage.
• Permodalan Nasional Madani (PNM)coreStrategic or Co-development PartnerPNM is listed as a business partner, utilizing Askrindo Syariah's guarantee services for its MSME financing portfolio.
• Bank Tabungan Pensiunan Nasional Syariah (BTPN Syariah)coreStrategic or Co-development PartnerBTPN Syariah is a key business partner, with joint community activities including qurban donations and gowes bareng (cycling together) events.
• Lembaga Pengelolaan Dana Bergulir KUMKM (LPDB)coreStrategic or Co-development PartnerLPDB is a business partner and was a qurban animal recipient, utilizing Askrindo Syariah's guarantee coverage for its revolving fund programs for micro, small, and medium enterprises.
• Bank Tabungan Negara (BTN Unit Usaha Syariah)coreChannel Partner/ Reseller/ DistributorBTN's Islamic banking unit utilizes Askrindo Syariah's kafalah guarantee products for home financing portfolio coverage.
• Bank Mega SyariahminorChannel Partner/ Reseller/ DistributorListed as a business partner utilizing Askrindo Syariah's guarantee products.
• Bank CIMB Niaga Unit Usaha SyariahcoreChannel Partner/ Reseller/ DistributorListed as a key business partner in Askrindo Syariah's partner network.
• KB Bukopin SyariahminorChannel Partner/ Reseller/ DistributorListed as a business partner utilizing Askrindo Syariah's guarantee products.
• Bank Sinarmas SyariahminorChannel Partner/ Reseller/ DistributorListed as a business partner utilizing Askrindo Syariah's guarantee products.
• Indonesia EximbankminorChannel Partner/ Reseller/ DistributorListed as a business partner utilizing Askrindo Syariah's export guarantee products.
• Bank AcehminorChannel Partner/ Reseller/ DistributorRegional Islamic bank partner in Askrindo Syariah's distribution network.
• Bankjateng SyariahminorChannel Partner/ Reseller/ DistributorRegional Islamic bank partner (Central Java) in Askrindo Syariah's distribution network.
• Bank BPD DIYminorChannel Partner/ Reseller/ DistributorRegional Islamic bank partner (Yogyakarta) in Askrindo Syariah's distribution network.
• Bank NagariminorChannel Partner/ Reseller/ DistributorRegional Islamic bank partner (West Sumatra) in Askrindo Syariah's distribution network.
• Bank SulutGominorChannel Partner/ Reseller/ DistributorRegional Islamic bank partner (North Sulawesi-Gorontalo) in Askrindo Syariah's distribution network.
• Bank NTB SyariahminorChannel Partner/ Reseller/ DistributorRegional Islamic bank partner (West Nusa Tenggara) in Askrindo Syariah's distribution network.
• BPRS HIK ParahyanganminorChannel Partner/ Reseller/ DistributorIslamic rural bank partner in West Java utilizing Askrindo Syariah's guarantee products.
• BPRS Metro MadaniminorChannel Partner/ Reseller/ DistributorIslamic rural bank partner utilizing Askrindo Syariah's guarantee products.
• BMT TamzisminorChannel Partner/ Reseller/ DistributorBaitul Maal wat Tamwil (Islamic microfinance institution) partner in Askrindo Syariah's network.
• LAZ Al Azhar Peduli UmatminorOthersIslamic charitable organization (Lembaga Amil Zakat) partner for CSR and UPZ programs including COVID-19 relief, earthquake recovery (Rumah Sementara Layak Huni in Cianjur), ambulance donations, and qurban distribution.
• LAZ Nahwa NurminorOthersIslamic charitable organization partner for CSR programs including drought relief (bore wells in Bogor), ambulance donation, and community assistance.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Syarikat Takaful Malaysia: Malaysia's largest takaful (Islamic insurance) operator. Comparable sharia-compliant risk-bearing institution serving Muslim consumers and SMEs, with overlapping product categories in family takaful, general takaful, and MSME protection.
• Etiqa Family Takaful: Major Malaysian takaful operator offering sharia-compliant protection products including credit-related and family coverage. Relevant broader incumbent demonstrating how Islamic risk-bearing products are commercialized across the region.
• PT Asuransi Kredit Indonesia (Askrindo): Conventional credit insurance parent of Askrindo Syariah. Operates the same guarantee business model under non-sharia principles, serving as both the closest institutional counterpart and an internal competitive threat for partner-bank wallet share.

Others

• Bank Syariah Indonesia (BSI): Indonesia's largest Islamic bank formed from the merger of BRI Syariah, BNI Syariah, and Mandiri Syariah. Functions as both Askrindo Syariah's largest customer/partner and a structural risk if BSI internalizes guarantee functions or shifts volumes to alternative guarantee providers.

Regional players

• Danajamin Nasional Berhad: Malaysia's first financial guarantee insurer, providing credit enhancement for Islamic and conventional debt securities. Comparable business model extending guarantees into capital markets — a potential template for Askrindo Syariah's sukuk/structured-finance expansion.
• Credit Guarantee Corporation Malaysia (CGC): Malaysia's national credit guarantee institution providing financing guarantees to SMEs and non-bankable borrowers. Comparable institutional role, similar guarantee product structure, and analogous government-backed positioning in a more developed Islamic finance market.
• Syarikat Jaminan Pembiayaan Perniagaan (SJPP): Malaysian government-backed guarantee company providing financing guarantees to SMEs. Similar institutional mandate, sovereign credibility, and SME-focused product portfolio across both conventional and Islamic financing.

Direct peers

• PT Penjaminan Kredit Indonesia (Jamkrindo): Indonesia's other major state-owned credit guarantee company. Closest direct peer — comparable scale, similar BUMN/government backing, overlapping guarantee product portfolio (KUR, MSME, cooperative financing), and direct competition for the same partner banks and government guarantee programs.
• PT Jaminan Kredit Indonesia (Jamkrindo Syariah): Sharia business unit of Jamkrindo offering kafalah/Islamic credit guarantee products. Head-to-head competitor within the same Indonesian sharia guarantee market, competing for DSN MUI-endorsed mandates and Islamic bank partnerships.

Emerging players

• Alami Fintek Sharia: Indonesia's leading sharia-focused fintech lending platform. Already listed as an Askrindo Syariah business partner, but also a structural disruptor — connecting MSMEs directly to financing without traditional Islamic bank intermediation, potentially bypassing Askrindo's guarantee layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pt-jaminan-pembiayaan-askrindo-syariah

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT Jaminan Pembiayaan Askrindo Syariah